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Commissioner of Income Tax Vs. Zam Zam Tanners

Court : Allahabad

Subject : Direct Taxation

Acts : Income Tax Act, 1961- Sections 2(24), 17, 28, 41, 44, 45, 59, 80HHC, 139(1), 139(3), 143(1A), 143, 144, 147, 160(1), 256(2), 271, 271(1) and 280D; ;Taxation Laws (Amendment) Act, 1975; ;Finance Act, 2002 - Sections 271(1); ;Finance Act, 1993 - Sections 143(1A); ;Constitution of India - Article 141

Reported in : (2005)197CTR(All)221; [2005]279ITR197(All)

have been concealed or inaccurate particulars have been furnished.'Section 271(1)(c) of the Act has been further amended by Finance Act, 2002, by which Clause (iii) and Expln. 4 has been modified. After the amendment section reads as follows … by the beneficiary.(v) any sum chargeable to income tax under Clauses (ii) and (iii) of Section 28 or Section 41 or Section 59;(va) the value of any benefit or perquisite taxable under Clause (iv) of Section 28;(vi) any … of CIT v. Varindra & Co., which related to the asst. yr. 1990-91 followed the earlier decision in the case of CIT v. Prithipal Singh

international Research Park Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Land Acquisition

Reported in : (1994)50ITD37(Delhi)

profits of the business of trading transactions only of which the source is total turnover. 8. By the Finance Act, 1990, Sub-section (3) has been amended to provide that profits derived from export of goods out of India shall … a. Single Member Bench of the Income-tax Appellate Tribunal in Asst. CIT v. Doshi Exports [1993] 45 ITD 417 (Bom). To put it shortly, the contention of Dr. S. Narayanan is that a person exclusively carrying on

Tulsidas V. Patel (P.) Ltd. Vs. Wealth-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (1998)65ITD287(Mum.)

years the Tribunal held that the whole property was not liable for wealth-tax under section 40 of the Finance Act, 1983, and in support thereof, the assessee produced the Tribunal's order dated 9-12-1994 for assessment years 1988-89 and … of the Tribunal in Asst. CWT v. Park Hotel (P.) Ltd. [1992] 41 ITD 501 wherein it was held that the provision of section 40 … 1. This is an appeal filed by the assessee and it relates to asstt.year 1990-91. The assessee is a private limited company. The relevant valuation date was 31-3-1990. It filed wealth-tax return on

Commissioner of Income-tax Vs. Chandulal Venichand

Court : Gujarat

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 28, 36, 36(1), 43B, 52, 139 and 139(1)

Reported in : (1994)118CTR(Guj)257; [1994]209ITR7(Guj)

income only of that previous year in which such sum is actually paid by him. 7. By the Finance Act, 1987, two provisos to section 43B were inserted with effect from April 1, 1988. It is submitted that … scope and effect of the amendment have been elaborated by the Departmental Circular No. 550 dated January 1, 1990, as under (see [1990] 182 ITR 114) : 'AMENDMENT OF PROVISIONS RELATING TO CERTAIN DEDUCTIONS TO BE ALLOWED … assessee, Messrs. Chandulal Venichand, filed a return of total income of Rs. 41,210. The return was filed on March 20, 1986. During the assessment proceedings,

Assistant Commissioner of Vs. Hyt Engg. Co. (P.) Ltd.

Court : Income Tax Appellate Tribunal ITAT Pune

Subject : Direct Taxation

Reported in : (2005)92ITD202(Pune.)

to note that the present case is governed by the old law. Section 41(1) was amended by the Finance Act, 1992, with effect from 1st April, 1993. This case relates to the assessment year 1990-91. Under the provisions

De Nora India Limited (Earlier Known as M/S Titano Vs. Cit and Another

Court : Delhi

Subject : Direct Taxation

directly or indirectly by any other person or authority. Explanation 8 has been inserted in Section 43(1) by Finance Act, 1986 (23 of 1986), with retrospective effect from 1.4.1974. It is important to note that the words "actual … 1 of 15 Act, 1961 („Act‟ in short) relate to assessment years 1990-91 and 1991-92, wherein challenge has been made to the common order dated … the Supreme court held that the ITA No.190 & 191/2002 Pa ge 9 of 15 balancing charge under Section 41(2) of the Act could be computed, inspite of the fact what was payable by the assessee was the

De Nora India Limited (Earlier Known as M/S Titano Vs. Cit and Another

Court : Delhi

Subject : Direct Taxation

directly or indirectly by any other person or authority. Explanation 8 has been inserted in Section 43(1) by Finance Act, 1986 (23 of 1986), with retrospective effect from 1.4.1974. It is important to note that the words "actual … 1 of 15 Act, 1961 („Act‟ in short) relate to assessment years 1990-91 and 1991-92, wherein challenge has been made to the common order dated … the Supreme court held that the ITA No.190 & 191/2002 Pa ge 9 of 15 balancing charge under Section 41(2) of the Act could be computed, inspite of the fact what was payable by the assessee was the

Commisioner of Income Tax Vs. Mohan MeakIn Limited

Court : Delhi

Subject : Direct Taxation

ceased. We are concerned with the assessment year 1995-.96. Explanation 1 to Section 41(1) was added by the Finance (No.2) Act, 1996 with effect from 1st April, 1997. After the insertion of this Explanation, it is not … bonus written back Disallowed in the earlier assessment year 14,133 iii) Tax on immovable property for the Year 1990-90 3,730 iv) Excess provision for excise duty payable Relating to assessment years 1986-87 To 1989-90 written back 2,95,200

Commissioner of Income-tax Vs. Sharda Gum and Chemicals

Court : Rajasthan

Subject : Direct Taxation

Reported in : (2007)209CTR(Raj)143; [2007]288ITR116(Raj)

made with retrospective effect from April 1, 1962, April 1, 1967, and April 1, 1972, respectively vide the Finance Act, 1990. Perhaps this necessitated the filing of a revised return by the assessee on May 1, 1990, of total … as under:Whether, on the facts and circumstances of the case, the Tribunal has correctly construed the provisions of Section 80HHC, in the matter of computing profits and gains of their business, in the context of the said

Assam Company Ltd. Vs. Dy. Cit

Court : Guwahati

Subject : Direct Taxation

after the judgment of the Hon'ble Supreme Court in : [1990]186ITR278(SC) (supra) an amendment was introduced by the Finance Act, 1992. In the abovesaid amendment section 41(l)(b) was introduced so as to make liable the successor of the